The New York Mercantile Exchange recently changed its bylaws to keep seat owners who don’t actually trade from holding key positions on its board.

The move comes at a crucial time because it clears the way for the exchange’s current management to stay in place despite strident criticism of its vision for the future.

The new provision in the exchange’s rules, part of the General Atlantic pact, strictly prohibits so-called equity owners – those who rent their seats to other traders – from running for chairman or vice chairman of the exchange.

The group, which represents about a third of the Nymex membership, includes several veteran members and former leaders of the Nymex who have seen the value of their seats skyrocket over the last five years along with oil prices.

If the General Atlantic deal is approved with the new provision intact, it would pave the way for current Nymex Vice Chairman Richard Schaeffer to run unopposed for the top spot, according to insiders familiar with the exchange’s rocky internal politics.

The Nymex has had a similar provision for the last 15 years or so, but it included a loophole that former chairman Michel Marks and others were planning to take advantage of in the coming election.

“The exchange has closed that loophole. This is clearly a way to prevent members of the equity owners group from running for chairman,” said Mark Rifkin, an attorney who represented disgruntled Nymex equity owner Cataldo Capozza, who sued the exchange over the General Atlantic deal.

The Post reported earlier this month that current Chairman Mitchell Steinhause is planning to step aside if the deal goes through.

The Nymex’s 816 members are scheduled to cast their votes on the deal – which gives General Atlantic a 10 percent stake of the Nymex for up to $170 million – on March 13.

If approved, the exchange will hold new elections seven weeks later for a reduced 15-member board.